November and December Have Been Good Months for Crypto Assets

November witnessed one of the biggest surges in the crypto market in a while following Donald Trump's election win.

Crypto assets had a stellar November and December.

Following Donald Trump’s election win, crypto assets witnessed one of its biggest surges in a while.

Bitcoin hit a new all-time high, trading at 103,679 USDT.

Altcoins like Solana, XRP, and Tron also reacted to the bull run.

XRP flipped Tether to become the third-largest crypto asset by market capitalization. Tron surpassed a 7-year all-time high, and Solana surged from 205 USDT on Nov 13 to a new all-time high of 263 USDT on Nov 23.

The November bull run cooled off a bit for most Altcoins, especially Solana, which is down 6.8% in the last 7 days and 4.5% on a two-week scale.

Solana’s surge can be attributed to its blockchain’s versatility. The Solana blockchain is known to be one of the busiest in the industry. Memecoins generation, Telegram-powered Web 3 games, and other projects saturate the blockchain, making it an essential pillar of the industry.

Solana Price Prediction: Can the Token Hit 1700 USDT?

Solana is trading at $220 at the time of this report, which is 16.1% down from its all-time high.

Analysts at Benzinga predict this target could take as far as 2031 to materialize.

Price Analysis

Solana is currently trading at $220, surging by 0.6% in the past 24 hours. The crypto asset is 16.1% down from its all-time high of $263.

Solana has been one of the busiest blockchains this year, hosting a series of Tap to Earn crypto projects powered by Telegram.

SOL has also become the default crypto asset for memecoin trading in addition to its existing utility. These factors drive up the demand for Sol, adding to its real-world use.